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Fego.ai is a technology company.
Fego.ai operates an open finance platform that provides user-facing businesses with behavioral financial insights from customer banking data. Its platform offers embeddable experiences, enabling B2C entities to integrate financial intelligence directly into their applications. Leveraging open banking infrastructure, Fego.ai processes transactional information, helping clients understand user financial habits.
Founded by Kumar Srikanthan, Kumar Srivatsan, and Vishal Prasad, Fego.ai emerged from recognizing open finance's transformative potential. Kumar Srivatsan, previously advancing account aggregation with Sahamati, envisioned consumer internet platforms evolving into fintech entities. The founders identified a need for businesses to access granular financial data for enhanced user understanding.
Fego.ai primarily serves B2C entities, especially consumer internet platforms integrating financial services and insights. The company's vision focuses on reshaping how businesses interact with user financial data, aiming for a future where detailed behavioral insights are routinely accessible. It empowers organizations to build more personalized and effective financial products for end-users.
Fego.ai has raised $2.0M across 1 funding round.
Fego.ai has raised $2.0M in total across 1 funding round.
Fego.ai has raised $2.0M in total across 1 funding round.
Fego.ai's investors include 3one4 Capital, Eximius Ventures, First Cheque, Saison Capital, Speciale Invest.
Fego.ai is an open-finance platform that empowers B2C entities, such as banks, NBFCs, financial institutions, and consumer internet companies, to access behavioral financial insights from users' banking transactions.[1][2][3] It offers a full-stack toolkit including embeddable personal finance experiences, account aggregation via India's Account Aggregation Framework, transaction categorization with AI and NLP (TrACE engine), and intelligence products like Fego XP, FegoIntel, and FegoConnect to enable real-time, personalized financial engagements for use cases in lending, collections, wealth management, fraud detection, and marketing.[1][2] Founded in 2020 in Chennai, India, the company has raised over $1.7 million in seed funding, generated ₹12 lakh+ in FY23 revenue, employs 41-60 people (with recent data showing 7), and was acquired by Perfios Software Solutions.[1][2][4]
Serving fintechs, banks, and consumer-tech firms, Fego.ai solves engineering and compliance burdens in open banking by providing pre-built modules, cleansed data, and insights that drive user retention and product innovation.[2][3] Its growth includes pilots with large players and a focus on India's fintech ecosystem.[3]
Fego.ai was founded in 2020 in Chennai, Tamil Nadu, by Kumar Srivatsan, who serves as Co-Founder & CEO.[1][4] Operating under Leap247 Finnovations Private Limited, the company emerged amid India's push for open banking, specifically leveraging the Account Aggregation (AA) Framework to address pipes (data access) and value-added services like insights and experiences.[3] Early traction came from market feedback, leading to three product pillars: pre-built embeddable experiences (Fego XP), financial intelligence (FegoIntel), and connectivity (FegoConnect), with successful POCs alongside major institutions.[2][3] Seed funding of $1.7M+ in December 2021 from investors like First Cheque, 3one4 Capital, Eximius Ventures, and Saison Capital fueled expansion, culminating in its acquisition by Perfios.[1][4]
Fego.ai rides the open finance and banking wave in India, enabled by regulatory frameworks like Account Aggregation, which democratize access to financial data for innovation.[2][3] Timing aligns with fintech's explosive growth—India's ecosystem demands tools to turn raw transactions into actionable insights amid rising digital lending and consumer finance apps.[1] Market forces like increasing NBFC/bank digitization and consumer-tech "finovation" favor Fego.ai, reducing silos and enabling personalized services that boost retention.[2] It influences the ecosystem by empowering developers, fostering embedded finance, and supporting Perfios' scale in analytics.[2]
Fego.ai's Perfios integration positions it for accelerated scaling in India's $100B+ fintech market, with trends like AI-driven personalization and real-time data shaping hyper-targeted products.[2] Expect deeper enterprise adoption, international AA-like expansions, and enhanced TrACE capabilities amid open banking regulations. Its toolkit will evolve influence from enabler to standard for B2C financial experiences, amplifying Perfios' dominance while simplifying fintech innovation.[1][2] This open-finance pioneer continues transforming raw data into behavioral gold for user-facing entities.
Fego.ai has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Seed in December 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Dec 1, 2021 | $2.0M Seed | 3one4 Capital, Eximius Ventures, First Cheque, Saison Capital, Speciale Invest |